The payment industry is迎来 a strategic shift. The old internet approach—rapid iteration, aggressive growth, and speed-based dominance—no longer works in the overseas payment market.

The changes we see are quite obvious: the guerrilla warfare mentality of the past is fading, replaced by a more asset-heavy, long-term investment, positional warfare model. Why? Because there are no shortcuts in payments. Unlike internet products, which can rely on algorithm optimization and user experience to achieve overtaking, payments involve compliance, clearing and settlement, risk control, and localization—each step is a hard confrontation that requires real money to stack up.

Those who hoped to leverage internet speed advantages to break into traditional financial fortresses have hit a wall here. The logic of overseas payments is being rewritten.